Oman Broadband, Asian Bank Sign RO92 Million Financing Agreement

Muscat, Oman Broadband signed RO92 million financing agreement

with the Asian Bank to invest in infrastructure and to finance its projects.

The agreement was signed by Said bin Hamdoon al- Harthy, Undersecretary of the

Ministry of Transport and Communications for Ports and Maritime Affairs, Chairman of the

Board of Directors of Oman Broadband.

The signing ceremony was sponsored by Dr. Ahmed bin Mohammed al- Futaisi, Minister

of Transport and Communications.

Eng. Said bin Abdullah al- Mantheri, CEO of Oman Broadband said that signing the

agreement with the Asian Infrastructure Investment Bank (AIIB) seeks to provide high-

speed communications services through the implementation of fiber-optic network

expansion projects. It is also one of the most important stages of the company, which will

be able through it to rely on external funding in the coming projects and without any

government guarantees.

He said in a statement to Oman News Agency (ONA) that the loan will be used to finance

the capital projects of the company to be completed in 2021 within the first phase of the

implementation of the National Broadband Strategy.

The signing ceremony was attended by a number of undersecretaries and CEOs of the

company in the telecommunications sector.

Source: Oman News Agency